Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the controller of blossom company estimates sales

The controller of Blossom Company estimates sales and production for the first four months of...

60.1K

Verified Solution

Question

Accounting

image
image
The controller of Blossom Company estimates sales and production for the first four months of 2022 as follows: Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40% of credit sales are collected. It takes 4kg of direct materials to produce a finished unit, and direct materials cost $5 per kg. All direct materials purchases are on account, and are paid as follows: 40% in the month of the purchase and 60% the following month. Ending direct materials inventory for each month is 40% of the next month's production needs. January's beginning materials inventory is 1,010kg. Suppose that both accounts receivable and accounts payable are zero at the beginning of January. What are cash payments on account for February

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Q1Even a small quantity of hormone can have a strong effect on its target cell because...

Civil Engineering
1.2K views

What are the expected deliverables at each stage of the design process? Matrix form preferred.

Biology
1.2K views

A patient with beta thalassemia major is developing an enlarged jaw because:a. They are secreting...

Biology
1.2K views

What are ammonites? A. An ancient tribe that used to live in Pangea before the...

Biology
1.2K views

Identify an operating system that is designed Microsoft O Linux

Biology
1.2K views

A Punnett square is a tool used for determining the probability of a single offspring...

Physics
1.2K views

nts are given one labelled Assertion A and the other labelled Reason R Select the...

Geometry
1.2K views

Question 1 Points 2 Find the equation of a circle whose center is 4 11...

Basic Math
1.2K views

Read the following sentence which contains grammatical errors Alexander finally answered after taking a few...

Accounting
1.2K views

The following account balances were taken from the adjusted trial balance for...

Accounting
1.2K views

Lara is a marketeting manager at a large corporation. The center of all of Lara's...

Accounting
1.2K views

How much will you have in a savings account in ten years, if you deposit...